Russia Develops National Registry for Cryptocurrency Mining Equipment

According to BlockBeats, the Russian Ministry of Energy has initiated the development of a national registry for cryptocurrency mining equipment. This system aims to combat illegal mining activities and enhance tax revenue. The registry will serve as a centralized database for all cryptocurrency mining equipment across the country. It is being developed in collaboration with the Federal Tax Service and the Ministry of Digital Development. Petr Konyushenko, Deputy Minister of Energy, stated that the system will assist authorities in accurately identifying individuals using electricity for cryptocurrency mining. The initiative seeks to ensure compliance with relevant laws and increase tax collection from mining operations.